Jeremy Levart & Mark Meisner Of Oak Funding Provide $38M Acquisition Loan For Office In Secaucus
500 Plaza Drive
$38,000,000
$81/SF
Building Size
466,440 SF
Asset Type
Office
Closing
Feb 18, 2025
AI
The asset involved in this transaction is an office property located at 500 Plaza Drive in Secaucus, with a total square footage of 466,440. The loan amount secured for the acquisition of this property is $38,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $38,000,000
- Address: 500 Plaza Drive
- Market: Secaucus
- Loan Amount: $38,000,000
- Loan Type: Acquisition
- Lender: Jeremy Levart & Mark Meisner - Oak Funding
- Landlord: Signature Acquisitions
The key individuals involved in this transaction are Jeremy Levart and Mark Meisner from Oak Funding, who acted as the lenders for the acquisition loan. Signature Acquisitions is noted as the landlord associated with this property deal.
Players
Secaucus Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93